A recent report estimated that nearly 35.6 million patients are affected by Alzheimer's disease (AD) worldwide and that about 4.6 million new cases are added up each year causing tremendous economic and social burden (Wimo, A et al., 2010, Alzheimer's Dementia 6, 98-103). In the US alone about 5.3 million Americans are affected by AD requiring about 148 billion dollars in annual costs for the care and treatment of affected patients (Alzheimer's Association, 2010, Alzheimer's Dement. 7, 208-244). Perhaps even worse is that every sixty eight seconds a new case of AD is diagnosed and AD is also the sixth leading cause of death (Alzheimer's Association, 2010, Alzheimer's Dement. 7, 208-244). For this reason AD is considered the second most feared disease after cancer. Although in the last two decades remarkable advances have been made in understanding the biological underpinnings of AD, we have completely failed to bring even a single truly disease modifying drug for therapy (Salomone, S et al., 2012, Br. J. Clin. Pharmacol. 73, 504-517). So far secretase inhibitors were considered the holy grail of AD. But anti-amyloid therapy based on secretase inhibition including the most recent semagacestat (Cummings, J, 2010, Biol Psych. 68, 876-878; Extance, A. 2010, Nat. rev. Drug. Discov. 9, 749-751), homotaurine (Swanoski, M T, 2009, Am. J. Health Syst. Pharm. 66, 1950-1953) and tarenfurbil (Green, R C. et al. 2009, JAMA, 302, 2557-2564), have all failed in clinical trials due to unacceptable levels of side effects and lack of potency. Because both γ- and β-secretase substrates are involved in vital functions (Haapasalo, A and Kovacs, D M. 2011, J. Alzheimer's Dis. 25, 3-28; Citron, M. 2004, Trends Pharmacol. Sci. 25, 92-97; Cole, S L. And Vassar, R. 2007, Mol. Neurodegen. 2, 22-47), the reported toxicity was not unexpected. Alternative strategies that may modulate APP processing without directly inhibiting secretases are therefore the need of the hour. So, if no effective disease modifying therapy is found in near future, it is predicted that by 2050 more than 100 million individuals will have AD worldwide (Wimo, A et al., 2010, Alzheimer's Dementia 6, 98-103; Alzheimer's Association, 2010, Alzheimer's Dement. 7, 208-244). Thus the unmet medical need for a therapy to treat AD is enormous.